The Deduction
98 episodes - English - Latest episode: 5 days ago - ★★★ - 1 ratingThe Deduction is your guide to the complicated world of tax and economics. From the impacts of tariffs and trade wars to debates over who pays and how much, each episode, our experts untangle another aspect of the tax code. Listen to the leading tax podcast! Have a question for one of our experts, let us know here: https://taxfoundation.org/mailbag. Follow us on Twitter @deductionpod: https://twitter.com/deductionpod
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Episodes
Taxocracy Tales with Scott Hodge
April 23, 2024 13:00 - 28 minutes - 19.5 MBAll taxes tell a story, and today we’ll explore how taxes influenced Bob Dylan's decision to sell his music catalog, how the "chicken tax" reshaped the auto industry, and how the historic "tax on air and light" had profound effects on architecture and living conditions. Scott Hodge, President Emeritus & Senior Policy Advisor at the Tax Foundation, joins host Kyle Hulehan to discuss his new book, Taxocracy: What You Don’t Know About Taxes and How They Rule Your Daily Life. Links: https...
Survey Says Tax Confusion
April 09, 2024 19:00 - 16 minutes - 11.2 MBAll Americans are affected by the tax code—but do they understand the tax code? To find out, the Tax Foundation’s educational program, TaxEDU, and Center for Federal Tax Policy conducted a poll with Public Policy Polling. The poll surveyed more than 2,700 U.S. taxpayers over 18 years old—spanning the political spectrum and income distribution—to gauge Americans’ knowledge of basic tax concepts and opinions of the current tax code. The results: most Americans are confused by and dissatisfie...
Biden’s Budget Blueprint
March 26, 2024 16:00 - 21 minutes - 14.8 MBIn the context of the 2024 election year, what does President Biden's 2025 budget proposal signify regarding his strategies and priorities as he seeks reelection? And how could these proposals shape the overall landscape of this election cycle? Garrett Watson, Senior Policy Analyst and Modeling Manager at the Tax Foundation, joins Kyle Hulehan to discuss the president’s plan—from raising the corporate tax rate to implementing a billionaires' tax—and the longstanding flaws in the budget pr...
Unpacking the Impact of TCJA, IRA, and CHIPS on the U.S. Economy
March 12, 2024 21:00 - 27 minutes - 19.2 MBToday, we're examining the differences between the broad incentives provided by the Tax Cuts and Jobs Act and the targeted approach of the Inflation Reduction Act and the CHIPS and Science Act. Alex Muresianu, Senior Policy Analyst at the Tax Foundation, joins Kyle Hulehan to explore these policies' intentions, tangible effects on specific sectors, and impact on the broader U.S. economy. Links: https://taxfoundation.org/research/all/federal/supply-side-economics-industrial-policy/...
Launching Tax Foundation Europe
February 27, 2024 18:00 - 34 minutes - 23.7 MBAs the world of tax policy becomes more interconnected, the Tax Foundation is stepping up, recognizing the pressing need for informed and principled tax policy education in an ever-evolving landscape. In response, we are broadening our scope by establishing a presence at the epicenter of European tax policy discussions: Brussels. Sean Bray, Director of European Policy at the Tax Foundation, and Edwin Visser, Deputy Global Tax Policy Leader at PwC Netherlands, join Kyle Hulehan to disc...
Costly Inputs: Unraveling Sales Tax's Impact on Businesses
February 13, 2024 22:00 - 32 minutes - 22.2 MBSales taxes go beyond a few extra bucks at the register. It’s not just about what you pay, but who pays. What are the implications of state sales tax bases across the U.S.? Katherine Loughead, Senior Policy Analyst & Research Manager at the Tax Foundation, joins Kyle Hulehan. Together, we'll uncover the core principles behind an efficient sales tax system and examine how taxing business inputs can lead to economic inefficiencies and higher prices for consumers. Links: https://taxfoun...
Exploring the Impact of the 2024 Tax Relief Act
January 30, 2024 15:00 - 27 minutes - 18.7 MBToday, we're exploring the intricacies of the latest congressional act stirring up Washington—The Tax Relief for American Families and Workers Act of 2024. Erica York, Senior Economist and Research Director at the Tax Foundation, joins Kyle Hulehan to dissect its key features, including the restoration of crucial business investment provisions, an expansion of the Child Tax Credit, and changes to pandemic-era tax credits. The conversation also sheds a light on the act's temporary and re...
Tackling Financial Literacy with Jed Collins
January 09, 2024 09:00 - 35 minutes - 24.6 MBFinancial literacy is a problem that educators around the country are trying to tackle. Today, we’re speaking with Jed Collins, a former NFL player, who is leading the charge in the financial education arena by guiding high school and college students, as well as professional athletes, through the world of finance. He’s passing down essential knowledge on understanding taxes, showing students that a good financial game plan can lead them towards a prosperous future. Links: https://taxfound...
Saving Americans’ Dwindling Savings
December 12, 2023 21:00 - 25 minutes - 17.4 MBAmericans are saving less. While the U.S. saving rate has regularly lagged behind its peers, it has yet to return to pre-pandemic levels. Increasingly, people are turning to credit cards to fill the gaps in their budgets. Garrett Watson, Senior Policy Analyst and Modeling Manager at the Tax Foundation, joins Kyle Hulehan to discuss why the U.S. is struggling to save and what solutions exist within the tax code to help Americans save more. Links: https://taxfoundation.org/blog/personal-s...
Economic Education Month and TaxEDU
October 24, 2023 19:00 - 15 minutes - 10.7 MBOctober is economic education month. An important part of economic education is understanding how taxes affect the economy. On this special episode of The Deduction, we discuss how Tax Foundation is doing just that through our tax literacy initiative, "TaxEDU." Zoe Callaway, Manager of Education and Outreach, joins Kyle Hulehan to chat about why Tax Foundation launched TaxEDU and how TaxEDU is advancing tax policy education, discussion, and understanding in classrooms, living rooms, and go...
Prohibition by Price
September 19, 2023 08:00 - 18 minutes - 12.9 MBStep into the shadows of illicit trade where taxation, incentives, and criminal networks intersect to fuel the lucrative cigarette smuggling market. Adam Hoffer, the Director of Excise Tax Policy, joins Kyle Hulehan to shed light on how substantial price markups on legal cigarettes pave the way for tempting tax avoidance opportunities. They unravel the unintended consequences of cigarette taxation and explore strategies to combat this burgeoning illicit trade Links: https://taxfoundation...
The Inflation Reduction Act One Year Later
August 29, 2023 08:00 - 38 minutes - 26.6 MBThe Inflation Reduction Act is an ambitious law with worthy goals to reduce deficits, fight inflation, help the IRS, and combat climate change. However, one year after its enactment, there are concerns about its overall fiscal impact, the additional complexity it introduces to the tax system, and the sustainability of its initiatives. Will McBride, Vice President of Federal Tax Policy at the Tax Foundation, joins Kyle Hulehan to examine the Inflation Reduction Act one year later. They dive...
Interesting Interest Rates
July 20, 2023 08:00 - 30 minutes - 20.9 MBInterest rates and tax policy, two vital components of our economic landscape, often interact in fascinating ways. They influence the behavior of individuals, businesses, and governments. But how exactly? Alan Cole, Senior Economist at the Tax Foundation, joins us to explore the complex effects of interest rate changes. We discuss how these shifts can impact everything, from budget deficits and tax revenues to investment choices and the overall economy. Links: https://taxfoundation.org/t...
The Wayfair Sales Tax Ruling, Five Years Later
June 22, 2023 07:00 - 27 minutes - 18.8 MBIt’s the 5th anniversary of the groundbreaking Wayfair Supreme Court decision—a ruling that marked a new era of sales tax collection and changed how we think about taxation in the digital age. South Dakota v. Wayfair established a new precedent, allowing states to assert their authority in collecting sales tax from remote sellers based on economic presence. Jared Walczak, Vice President of State Projects, joins Kyle to provide insights into the evolving legal framework surrounding the Wayf...
A Bittersweet Broadcast
June 08, 2023 08:00 - 15 minutes - 10.4 MBOn this “not-so-heavy-on-the-policy” episode, our much-beloved host, Jesse Solis, is joined by the Deduction's Senior Producer, Dan Carvajal, and Marketing Associate, Kyle Hulehan, to share some bittersweet news. If you follow us on social media, you've undoubtedly come across something Kyle created. He is no stranger to the Tax Foundation, having interned here in 2018 and rejoining full-time last year, and his ever-brimming curiosity will be a welcome new seat at the table. Support the Sh...
Tax Ideas for the EU Green Transition
May 25, 2023 08:00 - 29 minutes - 20.2 MBThe past few years have brought a renewed push from countries across the globe to combat climate change. In the European Union, policymakers have put a timeline on their climate agenda. By 2050, the EU wants to achieve a net-zero economy. Sean Bray, director of European policy, breaks down how much it would cost to achieve this goal. He also discusses the similarities and differences between the EU’s and the U.S.’s climate plans, and how the EU should use its tax codes to make the transitio...
The FairTax?
May 11, 2023 08:00 - 30 minutes - 20.7 MBThe FairTax, on paper, sounds simple: just replace all major sources of the federal government’s revenue—the individual income tax, corporate income tax, estate and gift taxes, and payroll tax—with a national sales tax. But when you pull back the curtains, this proposal leads to more questions than answers. Alan Cole, senior economist, makes his Deduction debut to talk us through why this old idea is gaining attention this year. He breaks down what the FairTax shows us about the debate bet...
Exploring Excise Tax Trends
April 27, 2023 07:00 - 24 minutes - 17.2 MBThe tax base around the world is shrinking for traditional excise taxes, including taxes on tobacco, alcohol, and motor fuel. But newer excise taxes on things like carbon, cannabis, and ride-sharing are on the rise. This trend has the potential to significantly affect the global economy. Adam Hoffer, Director of Excise Tax Policy, joins Jesse to discuss how excise taxes have been used by policymakers in the past and how that is changing. They discuss what makes a good design for these taxe...
What’s Missing from the Tax Burden Debate
April 13, 2023 07:00 - 20 minutes - 14.2 MBWhen we discuss tax policy, the conversation inevitably turns to who pays, who should pay, and how much they should pay. Unfortunately, the tax burdens debate is often missing a key point: how income transfer programs—like Social Security or Medicaid—affect households’ tax burdens. When looking at the whole picture, just how progressive is our tax code? Timothy Vermeer, senior policy analyst, joins Jesse to take a closer look. They discuss what is missing from the progressivity debate, and...
Biden's 2024 Budget
March 23, 2023 08:00 - 20 minutes - 14 MBPresident Biden recently released his budget proposal for fiscal year 2024. As he has with previous budgets, the president is continuing to call for higher taxes on businesses and wealthy taxpayers. This may be the last budget President Biden releases before he announces a run for a second term. The White House says this budget will reduce the deficit, strengthen Medicare, and will only target the well-off. But are those claims true? Erica York, senior economist, walks through the details ...
Rethinking Affordable Housing Tax Policy
March 09, 2023 08:00 - 27 minutes - 19.2 MBAffordable housing is an issue that has had long-standing bipartisan interest in D.C. But the path to increase the supply of affordable housing, though often well-intentioned, has created a bureaucratic nightmare. Large programs like the Low-Income Housing Tax Credit, and other initiatives like rehabilitation tax credits and grants, have created a web of complexity that makes these policies less helpful than they were meant to be. Garrett Watson, senior policy analyst, joins Jesse to break...
A Look at Local Income Taxes
February 23, 2023 08:00 - 18 minutes - 12.4 MBFiling season is ramping up, as most of us are getting ready to file our state and federal income taxes. But in nearly a third of U.S. states, taxpayers pay some sort of local income tax too. Levied in thousands of cities, counties, school districts, and other localities, local income taxes are often used to either lower other taxes (like property taxes) or raise more revenue for local services. While they may make sense on paper, local income taxes come with more challenges than other loc...
State of the Union Reaction 2023
February 09, 2023 08:00 - 18 minutes - 13 MBOn Tuesday, President Biden shared his policy aspirations during the State of the Union address. The commander in chief outlined three tax proposals in his remarks: quadrupling the brand-new excise tax on stock buybacks, instituting a “billionaire minimum tax,” and extending the now-lapsed expanded Child Tax Credit. Erica York and Alex Muresianu from the federal tax policy team joined Jesse to give a run-down of Tuesday night’s events. They discuss the prospects of major tax changes becomin...
Wealth Taxes Reach the States
January 26, 2023 09:00 - 24 minutes - 17.1 MBSince 2021, 43 states have provided substantial tax relief for taxpayers and businesses. But this year, a new trend has emerged in the opposite direction: a push for states to tax investment. From coordinated wealth tax proposals to higher capital gains income taxes, some state legislatures are going after high earners. Jared Walczak, V.P. of State Projects at the Tax Foundation, joins Jesse to discuss how these measures would affect investment, job creation, and migration between states—a...
New Year, New Taxes
January 12, 2023 09:00 - 18 minutes - 12.7 MBIt’s a new year. And if one thing is certain, it’s that businesses are facing a lot of uncertainty. Key parts of the Inflation Reduction Act of 2022 are kicking into effect, including the new book minimum tax. Erica York, senior economist at the Tax Foundation, joins Jesse to discuss why this policy came into the fold. They discuss if this tax will really stop companies from paying zero in taxes, as the president claims, if the new Republican House will revisit this debate, and what the ta...
All I Want for Christmas is EU: Understanding Tax Policy in Brussels
December 20, 2022 14:00 - 35 minutes - 24.1 MBWhen it comes to international economic competition, people often frame the argument as the U.S. versus China. But across the Atlantic, nation-states in the European Union have been working hard to show the world that they deserve to be considered an economic force. Rising up to this challenge for the EU is easier said than done. Sean Bray, EU policy analyst at the Tax Foundation, joins Jesse to talk through the EU's challenges--and potential--when it comes to tax and economic policy. Sup...
Meet Daniel Bunn (again), Tax Foundation's New President & CEO
December 01, 2022 09:00 - 26 minutes - 18.2 MBTax Foundation recently announced that Daniel Bunn is our new president and CEO. In this special episode of The Deduction¸ Daniel chats with Jesse about how he got into tax policy. They discuss his time in the Senate, his plans for Tax Foundation’s future, and even his obsession with smoking meats. Links: https://taxfoundation.org/staff/daniel-bunn/ https://twitter.com/danieldbunn https://www.linkedin.com/in/danielbunn Support the Show. Follow us! https://twitter.com/TaxFoundation https:...
Post-Election Breakdown
November 17, 2022 09:00 - 20 minutes - 14.1 MBThe 2022 midterm elections are wrapping up, and taxpayers are looking at a divided Congress for the next two years. Senior Policy Analyst Garrett Watson sits down with Jesse at Tax Foundation's headquarters to give a quick analysis of what these elections mean for tax policy. They talk through what we can expect from the approaching "lame-duck" session, what a Republican House and Democrat Senate could find agreement on, and what priorities the upcoming Congress should focus on. Links: http...
The UK’s Tax Battles, Part One: How We Got Here
October 18, 2022 14:00 - 35 minutes - 24.6 MBIf you’ve been following taxes closely these past few months, you know that the UK is currently undergoing a drastic change. This episode of The Deduction is part one in our ongoing coverage of the UK’s tax battles. Jesse chats with Tom Clougherty, research director and head of tax at the Centre for Policy Studies in London. Tom talks us through what all went down in the UK this fall: from the leadership elections to the countless U-turns the new prime minister has made to try and reform th...
The Woes of Temporary Tax Policy
September 29, 2022 08:00 - 20 minutes - 14.2 MBFrom the Tax Cuts and Jobs Act in 2017 to the Inflation Reduction Act signed into law just this summer, lawmakers across the political spectrum are often tempted to implement temporary tax reforms. But is this how tax policy should be done? Garrett Watson joins Jesse to discuss the pros and cons of writing tax laws that have an end date and why we find ourselves having a debate at the end of each year about so many temporary provisions. Links: https://taxfoundation.org/making-the-tax-cuts...
Unpacking the State and Local Tax Toolkit
September 15, 2022 08:00 - 24 minutes - 16.6 MBMaine has blueberry taxes. Alabama has mosquito taxes. Each state and county has its tax quirks. But when state and local governments want to raise revenues, there are four key taxes they turn to. Depending on where you live, the differences in these taxes between states can be significant. Katherine Loughead, senior policy analyst at the Tax Foundation, joins Jesse Solis to discuss trends we are currently seeing in state and local taxes and to break down how stable these revenue sources a...
Accounting for the New Book Minimum Tax
September 01, 2022 07:00 - 32 minutes - 22.4 MBThe Inflation Reduction Act, signed into law recently by President Biden, includes a book minimum tax, which is raising the eyebrows of accountants everywhere. This new policy–a 15 percent tax applied to the financial statement income that companies report to their investors–is one of the law’s largest revenue raisers and joins plenty of other “minimum” taxes for multinational corporations, including GILTI and the OECD global minimum tax. Scott Dyreng, a professor of accounting at Duke Uni...
IRS Funding and Technology
August 17, 2022 22:00 - 35 minutes - 24.5 MBThe Internal Revenue Service (IRS) finds itself under fire often. Outdated technology, millions of unanswered calls, and cafeterias full of paper returns--it's clear that America’s tax collector needs improvement. In the same way that technology has helped shape the tax policy debate, tech also has a role to play in advancing tax administration. Jesse is joined by Courtney Kay-Decker and Jared Ballew, chair and vice chair (respectively) of the Electronic Tax Administration Advisory Committ...
House Votes on the Inflation Reduction Act
August 12, 2022 16:00 - 13 minutes - 9.49 MBThe House of Representatives is set to pass the Inflation Reduction Act, the latest iteration of President Biden’s tax and climate agenda. The road to get to this final package has been anything but easy--with congressional Democrats drastically scaling back the initial $3 trillion Build Back Better agenda. Garrett Watson joins Jesse to discuss what sacrifices were made by key lawmakers to bring this bill to the finish line. They also look at what the economic impact of this proposal would...
The Inflation Reduction Act, What to Know
August 02, 2022 13:00 - 19 minutes - 13.2 MBAfter months of stalled negotiations, Sen. Joe Manchin (D-WV) announced that he has reached a deal with Senate Democrat leadership on a reconciliation package. Called the Inflation Reduction Act, the legislation would raise taxes on corporations and top earners with the goal of funding a number of programs to reduce carbon emissions, address prescription drug costs, and spur the economy. Garrett Watson joins Jesse Solis to talk through what these tax changes would mean for the economy: Wil...
Technology and Taxes
July 27, 2022 16:00 - 31 minutes - 21.3 MBTechnology is moving rapidly--especially when it comes to taxes. With advancements in AI and machine learning, we are seeing technology being utilized in every corner of the tax world. From policy to filing, from accounting to compliance: technology is truly shaping the future of taxes. Jesse chats with Ben Alarie, CEO of Blue J, and Garrett Watson, Senior Policy Analyst at the Tax Foundation, about how companies are utilizing technology to comply with new innovations in the tax code and ho...
Global Deal or No Deal
July 07, 2022 08:00 - 19 minutes - 13.2 MBOn July 1st, 2021, over 130 countries agreed to a sweeping overhaul of the global tax system. This agreement -- on a 15% global minimum tax -- was unprecedented, taking on over a century of how international tax competition has been done. One year later, the deal appears stuck. Countries are moving ahead with caution before codifying this new tax into their laws. Daniel Bunn, Tax Foundation's executive vice president, joins Jesse to discuss what this delay means for countries and multinat...
Windfall Profits Taxes?
June 28, 2022 09:00 - 13 minutes - 9.4 MBOil prices have skyrocketed, posing a new risk to the post-pandemic recovery. Feeling the pressure to respond, policymakers have proposed everything from gas tax holidays, tapping into strategic reserves, and even rebate cards. One idea that has crawled back from the dead: “Windfall Profits Taxes.” This idea is seemingly simple: legislation targeted at the “excess” profits of oil companies. However, as with anything in tax policy, the reality is much more complicated. But why exactly have ...
Clean Up on the Grocery Tax Aisle
June 09, 2022 10:00 - 19 minutes - 13.3 MBAmidst soaring inflation, policymakers across the political spectrum proposed many ideas to soften the blow of higher prices—especially for low-income workers and families. One idea that caught on quickly: sales tax relief on groceries. The idea had its merits, but Tax Foundation research shows that it may have missed the mark. Tax Foundation Vice President of State Projects Jared Walczak joins Jesse Solis to discuss how grocery sales tax relief became a popular idea, and why it is so hard...
Pondering Property Taxes
May 26, 2022 10:00 - 16 minutes - 11.6 MBProperty taxes are one of the most substantial tax burdens businesses face. In 2020 alone, property taxes accounted for almost 38 percent of all taxes paid by businesses to state and local governments. These taxes are highly unpopular and can get extremely confusing. But when done right, property taxes can actually be quite good. Janelle Fritts, a state tax policy analyst, joins Jesse Solis to talk through what a well structured property tax should look like, which states have good property...
Clearing up Carbon Taxes
May 12, 2022 10:00 - 20 minutes - 14.4 MBAmidst bipartisan climate negotiations on Capitol Hill, there have been renewed calls for a carbon tax. Carbon taxes have long been magnets for political controversy. But from an economic standpoint, they deserve to be taken seriously. Federal policy analyst Alex Muresianu joins Jesse Solis this week to talk through the history of climate tax policy, how a pro-growth carbon tax could be designed, and what its chances in DC actually are as the climate crisis worsens. Support the Show. Fol...
States' Taxes Go Flat
April 28, 2022 10:00 - 17 minutes - 12 MBEpisode Description: State lawmakers have been on the move this year. One major trend that has been taking place? A push for flat taxes. In more than 100 years of state income taxes, only four states have ever moved from a graduated-rate income tax to a flat tax. Another four may adopt flat tax legislation just this year. Jared Walczak, vice president for state projects, joins Jesse Solis this week to discuss what flat taxes are, what they mean for taxpayers, and why so many states are mak...
TFU 2022: 10 Tax Reforms for Growth and Opportunity
April 27, 2022 14:00 - 56 minutes - 39.1 MBThe return of high inflation after 40 years should cause policymakers to rethink their approach, get back to basics, and focus on economic growth and opportunity. Tax reform should be a key pillar in this approach. The third session of Tax Foundation University 2022 will provide a demo of the Tax Foundation’s Taxes and Growth (TAG) Model and an overview of Tax Foundation’s 10 Tax Reforms for Growth and Opportunity. We will discuss how charting a path of increased economic opportunity, inno...
TFU 2022: The Individual Income Tax
April 27, 2022 14:00 - 1 hour - 41.4 MBThe second session of Tax Foundation University 2022 will cover key parts of the individual tax code, explaining why it contains elements of income and consumption taxes and how it applies to a growing share of businesses, colloquially known as “pass-throughs.” Our experts will discuss the temporary expansion of work and child-related provisions and its impact on growth. Finally, you will learn about ideas proposed as part of the Build Back Better agenda, including a high-income surcharge,...
TFU 2022: The Corporate Income Tax
April 07, 2022 20:00 - 1 hour - 41.5 MBThe first of our three Tax Foundation University 2022 sessions will explain key parts of the corporate and international tax code, the current tax landscape, implications of scheduled and potential changes, and the latest research on who bears the burden of corporate income taxes. We will discuss key concepts proposed as part of the Build Back Better agenda, such as profit shifting, differences between taxable and book income, and the tax treatment of other types of financial income. To fin...
Biden’s Budget Battle
March 31, 2022 08:00 - 18 minutes - 13 MBPresident Biden this week released his annual budget. In a letter to lawmakers, the 46th President said that this $5.8 trillion package would “[grow] our economy, while ensuring that the wealthiest Americans and the biggest corporations begin to pay their fair share.” This week, Garrett Watson joins Jesse Solis to break down what the President is proposing for this upcoming fiscal year. Garrett discusses what the budget could actually means for the policy debate in D.C., as well as what its...
Let’s Make a Global Tax Deal
March 17, 2022 09:00 - 21 minutes - 14.6 MBLate last year, over 130 countries agreed to a global minimum tax, a purported end-all and be-all to the "race to the bottom." But this policy is complex, and countries are already struggling to implement these new rules. Daniel Bunn, Vice President of Global Projects, joins Jesse to talk through how this policy came to be, identify where problems are beginning to arise, and dispel some common myths about this emerging new tax system. Support the Show. Follow us! https://twitter.com/TaxFo...
A Gas Tax Holiday
March 03, 2022 21:00 - 12 minutes - 8.59 MBThe cost of gas is going up. To address this, policymakers have proposed suspending the gas tax as a way to give taxpayers immediate relief at the pump. Alex Muresianu, a federal policy analyst at the Tax Foundation, argues that a gas tax holiday could actually make matters worse; that instead of lowering prices and easing inflation, it could have the opposite effect. He joins Jesse Solis on this week's episode of The Deduction to discuss why suspending the gas tax would be a mistake and w...
Inflation, Debt, and Taxes
February 17, 2022 20:00 - 59 minutes - 40.7 MBInflation has made an unwelcome comeback, with consumer prices rising at rates not seen since 1982. Where did this inflation come from and what might its impacts be? What does inflation have to do with tax and fiscal policy and how could each be used to mitigate its negative effects? The Tax Foundation recently hosted a panel discussion with experts from the Committee for a Responsible Federal Budget and The Hoover Institution to discuss these questions and more, including the impact of ena...
The Child Tax Credit Score
February 17, 2022 10:00 - 15 minutes - 10.4 MBThe expanded Child Tax Credit from the American Rescue Plan was touted as a once-in-a-lifetime achievement toward reducing child poverty. But it was passed as a temporary tax measure. Temporary tax policy makes tax filing confusing, and the IRS has shown that it isn’t able to keep pace with being a social administrator and a tax collector. Senior economist Erica York joins Jesse Solis to discuss what taxpayers need to know about the ever-changing Child Tax Credit and how it may impact taxpa...